$2 billion worth of Bitcoin withdrawn from Coinbase over weekend | The Financial Express

$2 billion worth of Bitcoin withdrawn from Coinbase over weekend

Numbers show that Binance increased its reserves by a total of 78,000 BTC

$2 billion worth of Bitcoin withdrawn from Coinbase over weekend
The vast majority of the major exchanges experience heavy BTC withdrawals, according to data from Glassnode.

Over the weekend of November 26 and 27, Coinbase saw withdrawals of about $2 billion worth of bitcoin, bringing the total amount taken out since November 24 to $3.5 billion, as reported by Cryptoslate.

Cryptoslate further noted Bitcoin (BTC) withdrawals from the exchange between November 24 and November 25 totaled approximately $1.5 billion. Since November 24, the exchange’s reserves have been losing about 50,000 BTC per day, or about $3.5 billion, in total.

Numbers show that Binance increased its reserves by a total of 78,000 BTC, which at the time of this writing is equivalent to about $1.2 billion.

The vast majority of the major exchanges experience heavy BTC withdrawals, according to data from Glassnode.

Numbers show that Binance increased its reserves by a total of 78,000 BTC, which at the time of this writing is equivalent to about $1.2 billion.

(With insights from Cointelegraph)

Also Read: Israel’s chief economist offers suggestions for crypto regulation

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First published on: 29-11-2022 at 15:24 IST